Cpwm LLC Invests $210,000 in MasTec, Inc. (MTZ)

Cpwm LLC bought a new position in shares of MasTec, Inc. (NYSE:MTZ) during the first quarter, HoldingsChannel reports. The fund bought 4,356 shares of the construction company’s stock, valued at approximately $210,000.

Several other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of MasTec by 54.6% during the fourth quarter. BlackRock Inc. now owns 7,818,157 shares of the construction company’s stock worth $317,103,000 after purchasing an additional 2,762,363 shares during the period. Vanguard Group Inc. raised its position in shares of MasTec by 0.8% during the third quarter. Vanguard Group Inc. now owns 5,694,752 shares of the construction company’s stock worth $254,271,000 after purchasing an additional 42,982 shares during the period. Macquarie Group Ltd. raised its position in shares of MasTec by 4.6% during the fourth quarter. Macquarie Group Ltd. now owns 3,787,941 shares of the construction company’s stock worth $153,639,000 after purchasing an additional 167,974 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MasTec by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,802,725 shares of the construction company’s stock worth $113,678,000 after purchasing an additional 48,968 shares during the period. Finally, Handelsbanken Fonder AB raised its position in MasTec by 53.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,257,442 shares of the construction company’s stock valued at $51,002,000 after buying an additional 437,442 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

In other news, Director Robert J. Dwyer sold 10,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $51.66, for a total transaction of $516,600.00. Following the completion of the sale, the director now directly owns 23,587 shares of the company’s stock, valued at approximately $1,218,504.42. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 22.00% of the company’s stock.

A number of equities research analysts recently commented on the company. Zacks Investment Research raised MasTec from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, May 9th. ValuEngine raised MasTec from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Barclays reissued a “buy” rating and issued a $57.00 price target on shares of MasTec in a research report on Wednesday, March 13th. B. Riley lowered their price target on MasTec from $71.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, Robert W. Baird increased their price target on MasTec from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. MasTec currently has a consensus rating of “Buy” and a consensus target price of $60.13.

NYSE MTZ opened at $48.37 on Wednesday. The firm has a market capitalization of $3.64 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.35 and a beta of 1.43. MasTec, Inc. has a 12 month low of $37.24 and a 12 month high of $54.70. The company has a quick ratio of 1.70, a current ratio of 1.79 and a debt-to-equity ratio of 1.18.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 28th. The construction company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. MasTec had a return on equity of 21.31% and a net margin of 3.93%. Equities analysts expect that MasTec, Inc. will post 4.41 EPS for the current year.

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MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

Further Reading: Derivative

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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